Market Close Highlights, Oct 14: Sensex adds 591 pts, Nifty ends above 25,100; IT, Banks outperform

Stock Market Today:The day ended in favor of the bulls as 33 out of 50 constituent stocks of Nifty50 ended in green, led by Wipro, Tech Mahindra, HDFC Life Insurance, HDFC Bank, and Larsen & Toubro

3:59 PM

Market View: Nifty50's positive momentum to continue towards 25,234 – 25,360

Nifty opened gap up and traded with a positive bias throughout the day to close with gains of ~164 points. On the daily charts we can observe that the Nifty has resumed its upmove towards 25500 after a brief three-day consolidation. Hourly momentum indicator has a positive crossover which is a buy signal. Thus, we expect the positive momentum to continue over the next few trading sessions towards 25234 – 25360. Support base shifts higher towards 24920.

 

Bank Nifty broke out of a three day consolidation on the upside and is now inching towards 52500 which coincides with the 20 day average. Support base shifts higher towards 51400 – 51500.

(View by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas)

3:50 PM

Comment: Indian market demonstrating resilience, with subdued Q2 earnings expectations

Global markets are showing mixed signals as China’s disinflation and weaker economic data suggest a potential further slowdown in global economic growth, already affected by rising geopolitical tensions.

Furthermore, the positive impact of the Chinese stimulus package seems to be diminishing. Meanwhile, the Indian market is demonstrating resilience, with subdued Q2 earnings expectations seemingly priced in and oil prices declining. The IT and financial sectors are attracting buying interest after recent corrections.

(Comment by: Vinod Nair, Head of Research, Geojit Financial Services.

3:47 PM

Stock Market Highlights LIVE Updates: Nifty Realty, Bank, IT gain

Among sectors, Nifty Realty outran others, soaring 1.61 per cent, and was followed by Nifty Bank and Nifty IT, while Nifty Media and Metal ended the day in red. 

3:44 PM

Stock Market Highlights LIVE Updates: Wipro, Tech Mahindra, HDFC Life gain up to 4% on NSE

Tech Mahindra was the top gainer on NSE, and was followed by the likes of Tech Mahindra, and HDFC Life. 

3:41 PM

Stock Market Highlights LIVE Updates: Broader indices underperform

The broader markets ended in green on Monday, however underperformed the benchmarks with BSE MidCap ending 0.28 per cent higher and BSE SmallCap closing 0.06 per cent higher. 

3:38 PM

Stock Market Highlights LIVE Updates: Heatmap check

Tech Mahindra, HDFC Bank and L&T were among the top gainers on BSE Sensex, rising up to 3 per cent, while the likes of Maruti, Tata Steel and Bajaj Finserv fell 1 per cent each at close on Monday. 

3:34 PM

Stock Market Highlights LIVE Updates: Nifty ends over 150 pts above

NSE's Nifty 50 closed at 25,127 level, up 163 points, or 0.66 per cent on Monday.

3:31 PM

Stock Market LIVE Updates: Sensex ends nearly 600 pts higher

The BSE Sensex finished 591 points, or 0.73 per cent above, at 81,973 level on Monday. 

3:27 PM

Stock Market LIVE Updates: Inflation horse brought to the stable, has to be kept on a tight leash: RBI

RBI on CPI inflation, inflation forecast India: Even as the Reserve Bank of India (RBI) has changed its monetary policy stance to 'neutral' from 'withdrawal of accommodation', it remains mindful of the risks to inflation in the months ahead. It has highlighted adverse weather conditions, ongoing geopolitical conflicts, and a rise in select commodities as the key threats to its inflation forecast. Read more

3:19 PM

Stock Market LIVE Updates: Vijay Kedia portfolio SME stock has zoomed 31% in 2 days on heavy volumes

Shares of Affordable Robotic & Automation hit a 52-week high of Rs 829 on the BSE on Monday. Affordable Robotic & Automation share price today surged 19 per cent in the intraday, extending Friday's up move amid heavy volumes. In the last two days, the stock of the industrial products company has zoomed 31 per cent. Affordable Robotic & Automation stock had hit a record high of Rs 864 on August 28, 2023. Read more

3:09 PM

Stock Market LIVE Updates: Federal Bank shares jump 5% after MOFSL reiterates 'Buy' with 23% upside

Federal Bank shares surged to Rs 196.05 a piece in intraday day deals, rising up to 4.64 per cent on Monday after Motilal Oswal Financial Services (MOFSL) gave a target price of Rs 230, a 23 per cent upside to the company’s Friday’s closing price of Rs 187. 

Analysts at Motilal Oswal are bullish on Federal Bank as the company has demonstrated a strong growth trajectory over FY22-24, with 20 per cent compound annual growth rate (CAGR) in its loan book and 18 per cent deposit growth. This was despite the bank facing net interest margin pressure (NIM) and higher cost ratios due to rising funding costs and operational expenses. Read more

3:02 PM

Stock Market LIVE Updates: 3 PM market update - Sensex, Nifty climb

Stock Market LIVE Updates: Indian benchmark equity indices were trading higher on Monday, driven by the record high close on Wall Street by S&P 500 and Dow Jones on Friday.

At 3 PM, the BSE Sensex was up 572.39 points, or 0.70 per cent, at 81,953.75, and the Nifty 50 was at 25,121.05, up 156.80 points, or 0.70 per cent.

 

2:51 PM

Stock Market LIVE Updates: Wockhardt locks in 5% upper circuit as it nears approval for pneumonia drug

Stock Market LIVE Updates: Wockhardt shares were locked in a 5 per cent upper circuit on BSE, at Rs 1044.65 per share, in Monday's trade. The rally in the stock came after the pharmaceutical company informed that the Central Drugs Standard Control Organisation (CDSCO), India's regulatory body for cosmetics, pharmaceuticals, and medical devices, has given a favourable recommendation to the company's antibiotic drug Miqnaf, which is used in the treatment of community-acquired bacterial pneumonia (CABP) among adults. READ MORE

2:36 PM

Stock Market LIVE Updates: TCS dividend 2024: Ex-date looms; Check payout date, yield, history, & more

Stock Market LIVE Updates: Shares of IT giant, Tata Consultancy Services (TCS) are approaching their ex-date as the company has announced a dividend reward of whopping 1000 per cent, along with its financial results for the second quarter of FY25. India’s largest IT services provider company said in an exchange filing that the company's board has declared a second interim dividend of Rs 10 per equity share of Re 1 each of the company for FY25. READ MORE

2:33 PM

Stock Market LIVE Updates: Passenger vehicle sales growth expected to be below 5% in FY25, says Siam Prez

Stock Market LIVE Updates: The flat sales of passenger vehicles (PVs) in the first half of 2024-25 came as a “slight surprise” for the automobile industry, but it is expecting a rebound in the second half due to the festival season, Shailesh Chandra, President, Society of Indian Automobile Manufacturers (SIAM), said on Monday. Chandra said that the PV industry is expected to post a growth of “sub 5 per cent” in financial year 2024-25 (FY25). READ MORE

2:26 PM

Stock Market LIVE Updates: MTNL soars 9% as co plans 'not to shut shop' or go to NCLT, say reports

Stock Market LIVE Updates: Mahanagar Telephone Nigam Limited (MTNL) shares gained as much as 9 per cent in Monday's trade on BSE, recording an intraday high at Rs 55.36 per share. The buying interest in the stock came after CNBC TV18 reported that MTNL will not be allowed to 'shut shop', while an option to take the company to the National Company Law Tribunal (NCLT) for insolvency proceedings has been ruled out by the company's creditors and the government, which is the majority shareholder of the company, at 56.25 per cent. READ MORE

2:15 PM

Stock Market LIVE Updates: Hathway Cable share price rises over 5% after Q2 profit jumps 29% YoY

Stock Market LIVE Updates: Cable operator Hathway Cable & Datacom shares rose up to 5.07 per cent to hit an intraday high of Rs 21.10 per share on Monday, September 14, 2024.

 

The uptick in Hathway Cable & Datacom share price came after the company posted a strong set of September quarter (Q2FY25) financial performance. READ MORE

 

2:04 PM

Stock Market LIVE Updates: 2 PM market update - Sensex, Nifty gain

Stock Market LIVE Updates: Indian benchmark equity indices were trading higher on Monday, driven by the record high close on Wall Street by S&P 500 and Dow Jones on Friday.

At 2 PM, the BSE Sensex was up 597.34 points, or 0.73 per cent, at 81,978.70, and the Nifty 50 was at 25,126.60, up 162.35 points, or 0.65 per cent.

 

1:54 PM

Stock Market LIVE Updates: HCC bags Rs 1,031-cr to build two-lane bridge in Raigad district, Maharashtra

Stock Market LIVE Updates: HCC today informed that it has received a Letter of Acceptance from the Maharashtra government for the construction of a two-lane bridge in Raigad district on the Revas-Reddi Coastal Highway (MSH-04).

The company, in an exchange filing, said, "The company has received a Letter of Acceptance (LOA) from Maharashtra State Road Development Corporation Ltd. for the construction of a Two-Lane Bridge across Agardanda Creek with approaches connecting Tokekhar Tq. Murud and Turumbadi Tq. Mhasala in Raigad District on Revas-Reddi Coastal Highway (MSH-04) in the State of Maharashtra on EPC Mode for a total contract price of Rs 1,031.6 crore (excluding provisional sum and applicable GST)."

1:46 PM

Stock Market LIVE Updates: Aptus rallies 11% on hopes of stable asset quality, healthy profitability

Stock Market LIVE Updates: Shares of Aptus Value Housing Finance India (Aptus) hit a record high of Rs 401.65, as they rallied 11 per cent on the National Stock Exchange (NSE) in Monday’s intra-day trade amid heavy volumes on expectations that the company would be able to maintain a stable asset quality performance and healthy profitability, while sustaining its portfolio growth over the medium-term. READ MORE

 

1:38 PM

Stock Market LIVE Updates: Why Bajaj Housing Finance shares fell 6% on October 14; Check reasons here

Stock Market LIVE Updates: Recently-listing Bajaj Housing Finance shares dropped as much as 6.06 per cent to hit an intraday low of Rs 141.65 per share on Monday, October 14, 2024.

 

The fall in Bajaj Housing Finance shares shares came as the company saw its lock-in period end on October 14, 2024, for 126 million shares. READ MORE

 

 

1:26 PM

Stock Market LIVE Updates: Don't mistake recent pullback in equities for a bear market: Vinit Sambre

Stock Market LIVE Updates: As India Inc prepares to unveil its financial performance for the September 2024 (Q2-FY25) quarter, market movement going ahead will likely depend primarily on earnings growth, said Vinit Sambre, head-equities, DSP Mutual Fund, in an email interaction with Shivam Tyagi. READ MORE

1:19 PM

Stock Market LIVE Updates: Bajaj Auto Q2FY25 preview - Revenue may climb up to 25% YoY on strong volumes

Stock Market LIVE Updates: Automobile major Bajaj Auto will announce its September quarter of financial year 2025 (Q2FY25) results on Wednesday, October 16, 2024. 

 

Analysts are optimistic about major revenue growth, driven by robust volume increases and effective pricing strategies. The street estimates suggest a revenue increase of up to 25 per cent year-over-year, largely fuelled by strong domestic and export sales of two-wheelers. READ MORE

 

1:03 PM

Stock Market LIVE Updates: 1 PM market update - Sensex, Nifty maintain lead

Stock Market LIVE Updates: Indian benchmark equity indices were trading higher on Monday, driven by the record high close on Wall Street by S&P 500 and Dow Jones on Friday.

At 1 PM, the BSE Sensex was up 537.56 points, or 0.66 per cent, at 81,918.92, and the Nifty 50 was at 25,108.05, up 143.80 points, or 0.58 per cent.

12:56 PM

Stock Market LIVE Updates: Hyundai Motor India IPO review: Worth investing? Brokerages' recommendation

Stock Market LIVE Updates: As the initial public offering (IPO) of Hyundai Motor India, well positioned to be India's largest public offering, opens for anchor bidding on D-Street today, several brokerages—including KR Choksey, Anand Rathi Research, Arihant Capital, LKP Securities, and SBI Securities—have shared their views on the public issue for investors. READ MORE

 

12:45 PM

Stock Market LIVE Updates: Sharp spike in food prices bumps WPI inflation to 1.84% in September

Stock Market LIVE Updates: India’s wholesale price index (WPI)-based inflation saw a slight increase in September to 1.84 per cent from 1.31 per cent in August, primarily due to a sharp spike in food prices.

 

Food price inflation surged to 11.53 per cent during the month compared to 3.11 per cent in August, data released by the Ministry of Commerce and Industry on Monday showed. According to the data, prices of other major sub-indices like manufactured products witnessed deceleration, while prices of fuel and power contracted further during the month. READ MORE

 

12:37 PM

Stock Market LIVE Updates: Rekha Jhunjhunwala portfolio stock up 99% from June low; zooms 270% in 1 yr

Stock Market LIVE Updates: VA Tech Wabag (WABAG) share price hit a new high of Rs 1,634 as it gained 4 per cent on the BSE in Monday's intraday trade. The shares extended their past two days' upward move after the company secured 'large' repeat orders from Reliance Industries (RIL).

 

In the past three trading days, VA Tech Wabag shares have rallied 11 per cent. The company said the 'Large' order shall mean an order value in the range of Rs 300 to Rs 500 crore. READ MORE

 

12:29 PM

Stock Market LIVE Updates: Bikaji, Raymond, SPARC among 5 smallcap stocks that can gain up to 18%

Stock Market LIVE Updates: The National Stock Exchange (NSE) Nifty 50 index has been consolidating around the 25,000-mark for the last few days. After a 6 per cent fall from its peak of 26,266, the Nifty 50 has recovered near about 1.5 per cent from its recent low at present levels.

 

Meanwhile, the NSE SmallCap 250 index, which had plunged 7 per cent from its all-time high of 18,657, has recovered nearly 5 per cent from its recent low. This shows that the Nifty SmallCap index has outperformed the benchmark Nifty 50 in terms of market recovery. READ MORE

 

12:19 PM

Stock Market LIVE Updates: Here's why PNC Infratech shares surged 6% intraday on Oct 14; details

Stock Market LIVE Updates: Shares of civil construction firm PNC Infratech soared as much 6.1 per cent at Rs 467.75 per share on the BSE in Monday’s intraday trade. PNC Infratech share price rose after the construction company bagged a letter of acceptance (LoA) for a project worth Rs  2039.61 crore from the City and Industrial Development Corporation of Maharashtra. READ MORE

 

12:09 PM

Stock Market LIVE Updates: WPI Inflation climbs 1.84% in September, compared to 1.31% MoM

Stock Market LIVE Updates: The annual rate of inflation based on all India Wholesale Price Index (WPI) for September came in at 1.84 per cent (Provisional), compared to 1.31 per cent in the previous month. 
 

According to the government's press release announcing the same, the positive rate of inflation in September, 2024, is primarily due to an increase in prices of food articles, food products, other manufacturing, manufacture of motor vehicles, trailers and semi-trailers, manufacture of machinery and equipment, etc.